Any help welcome

Robflh

Hi x_raphael_xx

I hope your finger is getting better.

x_raphael_xx wrote: »

I also had a leaflet through from debtreducers.co.uk, aparently they can write off up to 70% of my debt and I would only need to pay 30% of what I owe! Wow, so I can run up debts, enjoy spending the money, then not pay it back! Sorry, no, I ran up these debts, so I should pay it all back, wiping most of it won't teach me any lessons

You stand more chance of wining the lottery two draws in a row then you do of getting 70% of your debts written off.

The banks and credit card companies may not have put a gun to your head and told you to spend the money but they did allow you to run up these debts. Therefore, they are just as responsible for them as you are.

The impression I get is that an IVA is for people that are working and have found themselves in a situation where they do not have enough money each month to meet their financial commitments. There are a number of reasons why this happens and any of them could happen to anyone at anytime.

The drawback of having an IVA is that it will ruin your credit rating but if you are not going to have a credit card or a loan for several years, then why should you have to pay back all of the money. After all it takes two to tango.

x_raphael_xx

Seaxwyn wrote: »

Thanks raphael. Far from boring, your thread is inspiring.

Your Gran is right - in two years you will have paid off your debt and will be saving money for your house, for travel, for your old age...

I am determined I won't be living on just £599 a year in my old age, I just have to work faster to turn my situation around in the 20-odd working years that are left to me.

Inspiring! Wow! I've found this site is very supportive, and if someone is inspired by my posts then thats all good. Thanks to everyone on here I get thrills when I can do a weeks shop for £10, or I find a penny in the street and can add it to my pot!
I'm so shocked (and proud of myself) that I've spent only £47.99 for my food budget so far this month, when I think back to when I used to spend £40 a week on just me! Makes me wonder what I spent it on and I curse myself for all that wasted money.

I just keep reminding myself its one day at a time, and pennies turn to pounds! Good luck on your own journey :kisses3:

x_raphael_xx

Robflh wrote: »

Hi x_raphael_xx

I hope your finger is getting better.

Alot better thanks, as my step-dad suggested I stuck a clean pin in and squeezed out the green gunk, and I keep dunking it in the hot salt water.

Robflh wrote: »

You stand more chance of wining the lottery two draws in a row then you do of getting 70% of your debts written off.

A friend of mine worked in one of these companies, so I know sort of how they work (incidentally she is in debt too, and trying to manage other peoples money!)
None of the creditors have to accept the IVA, and therefore will take the little that is offered, and keep adding on late payment fees and interest. Plus of course you will be paying the IVA company to do this for you. It's a shame the free charities don't advertise as most people don't realise an IVA can be done by them for free.

The_Dragon

This may seem like a silly question but could you negotiate with your Mum to extend the length of the payments (therefore reducing the amount you pay per month), just an idea here!

x_raphael_xx

The_Dragon wrote: »

This may seem like a silly question but could you negotiate with your Mum to extend the length of the payments (therefore reducing the amount you pay per month), just an idea here!

Thanks for the idea! But I'm afraid Mum is all paid off now!:rotfl:

postingalwaysposting

Seaxwyn wrote: »

Thanks raphael. Far from boring, your thread is inspiring.

raph, i have following you thread from the begining and i hope its still running when your debt free. You are of simmler age to me although you seem to live a different life to me and its so encouraging seeing how someone else deals with their debts. You have a great attitude and outlook on life. Keep it up

x_raphael_xx

postingalwaysposting wrote: »

raph, i have following you thread from the begining and i hope its still running when your debt free. You are of simmler age to me although you seem to live a different life to me and its so encouraging seeing how someone else deals with their debts. You have a great attitude and outlook on life. Keep it up

Thanks I'd like to continue the thread after I'm debt free, cos I'll have my next challenge infront of me ~ Saving for my future!!
I keep reading your thread and I'm pleased to see that you're debt free and the savings are creeping up!

The_Dragon

Thanks I'd like to continue the thread after I'm debt free, cos I'll have my next challenge infront of me ~ Saving for my future!!
I keep reading your thread and I'm pleased to see that you're debt free and the savings are creeping up!


It sounds to me as though you are doing really well! I want to clear my last debt (cc) by early next year - and then save for a smashing future! Hmm, I think I need to increase my Pension Payments as well! :eek:

x_raphael_xx

I was naughty yesterday I ordered a takeaway pizza. So I made a huge payment of £145 onto the card, then £11 straight off it! :doh:Oh well, I suppose I'm allowed a treat once in a while, lets call it my reward for paying off Bank of Scotland!

The cheque hasn't cleared yet, I keep checking my bank online, and I've not heard from Bank of Scotland. Thou I only posted the cheque on the 14th so it's been 4 days.

Finally got hold of my brother and we've finalised a few dates. I want to go out for a few drinks with him, and I don't want to worry about spending too much money. While I want to enjoy myself I know in the back of my mind I'll be thinking it's too much. Usually I only spend £20-£30 on a night out, I don't go out often.
I think I will be good this time, but when I see my brother for his birthday in October I will splash out!:beer:

The_Dragon

x_raphael_xx wrote: »

I was naughty yesterday I ordered a takeaway pizza. So I made a huge payment of £145 onto the card, then £11 straight off it! :doh:Oh well, I suppose I'm allowed a treat once in a while, lets call it my reward for paying off Bank of Scotland!

The cheque hasn't cleared yet, I keep checking my bank online, and I've not heard from Bank of Scotland. Thou I only posted the cheque on the 14th so it's been 4 days.

Finally got hold of my brother and we've finalised a few dates. I want to go out for a few drinks with him, and I don't want to worry about spending too much money. While I want to enjoy myself I know in the back of my mind I'll be thinking it's too much. Usually I only spend £20-£30 on a night out, I don't go out often.
I think I will be good this time, but when I see my brother for his birthday in October I will splash out!:beer:

Even though they say it has speeded up it can take up to a week for a cheque to clear!

Have fun with your bro :beer: but keep a track all the same sweets